Cross v. National Fire Insurance
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court, in the fifth judicial department, entered upon an order made the first Tuesday of June, 1890, which affirmed a judgment in favor of plaintiff, entered upon a verdict and affirmed an order denying a motion for a new trial. This was an action upon a policy of insurance against fire issued to the plaintiff as “ trustee.” The firm of Daniels & Mack were originally the owners of the insured property.
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Appeal from judgment of the General Term of the Supreme Court, in the fifth judicial department, entered upon an order made the first Tuesday of June, 1890, which affirmed a judgment in favor of plaintiff, entered upon a verdict and affirmed an order denying a motion for a new trial. This was an action upon a policy of insurance against fire issued to the plaintiff as “ trustee.” The firm of Daniels & Mack were originally the owners of the insured property. The firm being insolvent made a general assignment to John E. Pound, and subsequently having been adjudicated bankrupts, John T. Joyce…
1Opinion of the CourtBrown, J.
A contract of insurance is intended as an indemnity against an uncertain event, which if it occurs will cause loss to the assured.
The assured must, therefore, have some interest in or have such a relation to the insured property that he will sustain a loss from the peril insured against, otherwise the policy would be a wager which the law condemns.
The courts of this state are disposed to maintain policies where the assured has an insurable interest, and when that fact appears their validity will be determined by the conditions of the contract.
The party applying for insurance is not bound to…
2Cases cited2 opinions
- Stillwell v. . StaplesNew York Court of Appeals · 1859
- Kernochan v. . the New-York Bowery Fire Insurance CompanyNew York Court of Appeals · 1858
3Cited by27 opinions
- Gordon v. St. Paul Fire & Marine InsuranceMichigan Supreme Court · 1917
- German Insurance & Savings Institution v. KlineNebraska Supreme Court · 1895
- Sisk v. Citizens' InsuranceIndiana Court of Appeals · 1897
- McKinney v. Providence Washington Insurance Co.West Virginia Supreme Court · 1959
- American Artistic Gold Stamping Co. v. Glens Falls InsNew York Court of Common Pleas · 1892
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